First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) Shares Up 2.8% - Still a Buy?

Key Points

• QABA rose 2.8% on Thursday, trading as high as $70.10 before last changing hands at $69.91, with volume below average at 5,796 shares.
• The ETF recently raised its quarterly dividend to $0.3497 per share from $0.34, putting the annualized payout at about $1.40 for a 2.0% yield.
• Institutional interest has been active, with several firms buying new stakes or increasing positions in the fund during recent quarters.

First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA - ) was up 2.8% on Thursday . The stock traded as high as $70.10 and last traded at $69.9130. Approximately 5,796 shares traded hands during trading, a decline of 25% from the average daily volume of 7,737 shares. The stock had previously closed at $68.00.

First Trust NASDAQ ABA Community Bank Index Fund Trading Up 2.8%

The firm has a market cap of $94.38 million, a P/E ratio of 13.59 and a beta of 0.75. The stock has a 50 day simple moving average of $64.33 and a 200-day simple moving average of $61.43.

First Trust NASDAQ ABA Community Bank Index Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were issued a $0.3497 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from First Trust NASDAQ ABA Community Bank Index Fund's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, June 25th.

Institutional Investors Weigh In On First Trust NASDAQ ABA Community Bank Index Fund

Several large investors have recently bought and sold shares of QABA. Merkkuri Wealth Advisors LLC bought a new position in First Trust NASDAQ ABA Community Bank Index Fund during the first quarter valued at $59,000. Kestra Advisory Services LLC bought a new stake in shares of First Trust NASDAQ ABA Community Bank Index Fund in the 4th quarter worth about $73,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of First Trust NASDAQ ABA Community Bank Index Fund during the 4th quarter valued at about $75,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of First Trust NASDAQ ABA Community Bank Index Fund by 178.6% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,257 shares of the company's stock valued at $128,000 after buying an additional 1,447 shares in the last quarter. Finally, Waverly Advisors LLC purchased a new stake in shares of First Trust NASDAQ ABA Community Bank Index Fund during the 1st quarter valued at about $204,000.

About First Trust NASDAQ ABA Community Bank Index Fund

The First Trust NASDAQ ABA Community Bank Index Fund (QABA) is an exchange-traded fund that is based on the NASDAQ OMX ABA Community Bank index. The fund tracks an index of NASDAQ-listed banks and thrifts, excluding the 50 largest. QABA was launched on Jun 29, 2009 and is managed by First Trust.

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